Edwards Lifesciences Corporation (NYSE:EW) received a $124.00 price objective from research analysts at SunTrust Banks, Inc. in a research note issued to investors on Wednesday, October 25th. The brokerage presently has a “buy” rating on the medical research company’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 19.40% from the company’s current price. SunTrust Banks also issued estimates for Edwards Lifesciences Corporation’s Q3 2017 earnings at $0.84 EPS, Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $3.76 EPS, Q1 2018 earnings at $1.09 EPS, Q2 2018 earnings at $1.06 EPS, Q3 2018 earnings at $0.93 EPS, Q4 2018 earnings at $0.97 EPS, FY2018 earnings at $4.06 EPS, FY2019 earnings at $4.51 EPS, FY2020 earnings at $5.03 EPS and FY2021 earnings at $5.52 EPS.
EW has been the subject of a number of other research reports. Canaccord Genuity reiterated a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences Corporation in a report on Wednesday, June 28th. Cowen and Company reissued a “buy” rating and set a $135.00 target price on shares of Edwards Lifesciences Corporation in a research report on Thursday, October 12th. BidaskClub downgraded shares of Edwards Lifesciences Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Bank of America Corporation increased their target price on shares of Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Edwards Lifesciences Corporation presently has a consensus rating of “Buy” and an average price target of $125.17.
Shares of Edwards Lifesciences Corporation (EW) opened at $103.85 on Wednesday. Edwards Lifesciences Corporation has a 52-week low of $81.12 and a 52-week high of $121.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49. The firm has a market cap of $21,976.74, a PE ratio of 28.77, a P/E/G ratio of 1.86 and a beta of 0.46.
Edwards Lifesciences Corporation (NYSE:EW) last posted its earnings results on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $833.85 million. Edwards Lifesciences Corporation had a return on equity of 27.22% and a net margin of 22.47%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. analysts expect that Edwards Lifesciences Corporation will post 3.75 EPS for the current fiscal year.
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In related news, VP Larry L. Wood sold 18,960 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $111.81, for a total value of $2,119,917.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $112.45, for a total value of $3,699,605.00. The disclosure for this sale can be found here. Insiders have sold 138,580 shares of company stock valued at $15,039,844 in the last three months. 2.13% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in EW. Bank of New York Mellon Corp lifted its position in Edwards Lifesciences Corporation by 161.7% in the second quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after purchasing an additional 3,277,726 shares during the last quarter. Egerton Capital UK LLP purchased a new position in shares of Edwards Lifesciences Corporation during the second quarter valued at approximately $217,805,000. Koch Industries Inc. increased its stake in shares of Edwards Lifesciences Corporation by 28,363.1% during the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock valued at $1,386,000 after buying an additional 1,392,345 shares during the period. Wedgewood Partners Inc. purchased a new position in shares of Edwards Lifesciences Corporation during the first quarter valued at approximately $106,963,000. Finally, Artisan Partners Limited Partnership increased its stake in shares of Edwards Lifesciences Corporation by 90.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock valued at $151,174,000 after buying an additional 607,784 shares during the period. Hedge funds and other institutional investors own 82.32% of the company’s stock.
About Edwards Lifesciences Corporation
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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